Greenwood Capital Associates LLC Has $1.44 Million Stake in Medtronic plc (NYSE:MDT)

Greenwood Capital Associates LLC boosted its stake in shares of Medtronic plc (NYSE:MDT) by 4.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 17,446 shares of the medical technology company’s stock after acquiring an additional 800 shares during the period. Greenwood Capital Associates LLC’s holdings in Medtronic were worth $1,437,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MDT. Fortitude Family Office LLC purchased a new stake in shares of Medtronic during the fourth quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. boosted its position in Medtronic by 293.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 236,064 shares during the period. MeadowBrook Investment Advisors LLC acquired a new position in Medtronic during the fourth quarter valued at approximately $27,000. Financial Gravity Asset Management Inc. raised its position in shares of Medtronic by 317.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 279 shares during the period. Finally, Fortis Group Advisors LLC lifted its stake in shares of Medtronic by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock worth $38,000 after buying an additional 230 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insiders Place Their Bets

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Geoffrey Martha sold 19,113 shares of Medtronic stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $83.77, for a total value of $1,601,096.01. Following the completion of the transaction, the chief executive officer now directly owns 143,348 shares of the company’s stock, valued at $12,008,261.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Marinaro sold 854 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares in the company, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on MDT. The Goldman Sachs Group began coverage on shares of Medtronic in a report on Thursday, May 30th. They issued a “sell” rating and a $83.00 target price on the stock. UBS Group lifted their price objective on Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a research note on Friday, May 24th. Wells Fargo & Company increased their target price on Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Oppenheimer raised their target price on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 21st. Finally, Truist Financial reduced their price target on shares of Medtronic from $90.00 to $88.00 and set a “hold” rating for the company in a report on Friday, May 24th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Medtronic currently has an average rating of “Hold” and an average target price of $93.00.

Medtronic Price Performance

Shares of NYSE:MDT traded down $0.62 during midday trading on Friday, reaching $81.04. 3,688,958 shares of the company’s stock were exchanged, compared to its average volume of 6,862,874. The firm has a market capitalization of $107.61 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 2.36 and a beta of 0.83. The company’s 50 day simple moving average is $82.01 and its two-hundred day simple moving average is $83.51. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $91.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.03.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.01. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. The firm had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter last year, the company earned $1.57 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts expect that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.70 per share. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. This represents a $2.80 annualized dividend and a yield of 3.46%. The ex-dividend date is Friday, June 28th. Medtronic’s dividend payout ratio is currently 100.36%.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.